Specifically, they point out that by reclassifying the transfers to Rosalie Berger as salary payments, the net profit previously reflected on RTR's books was transmogrified into a net loss of nearly $1,500,000.

I love this post, being a book nerd. And anon, I literally am paid to read and I have not read Calvin nor Hobbes in the original. Though I have read Calvin and Hobbes many times. And I dare say I would win a literate-off if such a contest existed. And because I am literate, word history is interesting!

Not being tongue in cheek here - I really had never heard of the word before seeing it in the comic strip back in the day and assumed modern references all stemmed from that, rather than from Hobbes (a rather depressing figure whom, yes, I read a bit of) and Calvin (a rather depressing figure whom, no, I'd never read).

A quick Google search informs me that most people writing today use the word to impress rather than enlighten. When transmogrify is synonymous with transform, you may as well use transform. Transmogrify suggests a magical transformation - something strange or wondrous. The contemporary uses I found would work just as well with 'changed into' substituted.